This invention related to cutting tool assemblies and, more particularly, to a cutting tool assembly of the type including a pilot holder and a cutting blade positioned transversely in a transverse slot in the pilot holder.
Cutting tool assemblies of this type have the advantage of allowing relatively large diameter holes to be cut in metal plate members using relatively low power equipment. However, since the blades are typically held in position in the pilot hole by a set screw, removal and replacement of the blades is awkward and time consuming. Further, since the blades are typically held in a rigid position relative to the pilot holder by the set screw, high stress loads are generated in one or the other of the cutting edges of the blade when uneven surfaces are present in the plate member or when alignment of the plate member is not true with respect to the central axis of the pilot holder, with the result in either case that the blades are subject to frequent breakage.